Business Summary: Devon Energy Corporation is an oil and gas producer in the United States with a diversified multi-basin portfolio headlined by an acreage position in the Delaware Basin. The Company is primarily engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). It owns a portfolio of assets located in the Delaware Basin, Rockies, Eagle Ford and Anadarko Basin. The Delaware Basin operates in southeast New Mexico and across the state line into west Texas. It offers exploration and development opportunities from many geologic reservoirs and play types, including the oil-rich Wolfcamp, Bone Spring, Avalon and Delaware formations. Its Rockies development consists of its Williston Basin and Powder River Basin assets. The Eagle Ford operations are located in Texas' DeWitt and Karnes counties. The Anadarko Basin development is located in western Oklahoma. It has a joint venture with Dow to develop a portion of its Anadarko Basin acreage.
Financial Summary: BRIEF: For the fiscal year ended 31 December 2024, Devon Energy Corp revenues increased 4% to $15.94B. Net income decreased 23% to $2.89B. Revenues reflect Oil segment increase of 7% to $12.77B, NGL segment increase of 13% to $2.23B, Crude Oil Production, Total increase of 9% to 127M barrels, Oil Equivalent Production (B/D) Delaware increase of 9% to 465K barrels per day. Net income was offset by United States segment income decrease of 16% to $4.17B.